U.S. companies across sectors such as food and beverage makers and manufacturers of glucose monitors have faced investor questions over the risk to future sales from the growing popularity of promising weight-loss treatments.
The commission fined companies for participating in a cartel aimed at fixing the minimum price of an ingredient to produce the abdominal antispasmodic drug Buscopan and its generic versions.
The Swiss food giant’s CEO Mark Schneider said Nestle had not seen any impact from such drugs on sales so far, referring to the threat they pose to the packaged food industry that has spooked investors in recent weeks.
Without consumer health and with its orthopedics business undergoing restructuring, pressure on J&J’s large pharmaceutical unit is likely to intensify as the company aims to reach its goal of $57 billion in drug sales by 2025.
The U.S. medical equipment maker is looking to boost its life sciences portfolio that helps in drug discovery.
The company stated that it has capacity to fill syringes to serve makers of highly popular new weight-loss drugs in a class known as GLP-1, though it does not produce the active ingredient in those drugs.
The filing will allow it to resolve litigation claims in an “equitable manner”, the company said, adding it has received a commitment for $3.45 billion from some lenders, which will provide liquidity during the bankruptcy process.
Dialysis giant DaVita raised concerns over Novo Nordisk’s interim analysis of a kidney outcomes study of semaglutide, pointing to the potentially limited applicability of the findings.
The layoffs, set to take effect in late November, will impact about a third of Reata’s headcount. The workforce reduction comes just months after Biogen’s $7.3 billion Reata buy.
The U.S. health regulator did not find any misconduct at clinical sites managed by Care Access for Pfizer (PFE.N) and French partner Valneva’s (VLS.PA) trial of a Lyme disease vaccine candidate, the contract research firm stated.
